Slides
Page 1
1 2026Q2 Results August 24, 2026
Page 2
2 This presentation does not constitute or form part of any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities. Neither this presentation nor any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. Specifically, this presentation does not constitute a “prospectus” within the meaning of the Securities Act of 1933, as amended. Our historical results are not necessarily indicative of results to be expected for any future period. The financial data contained in this presentation for the periods and as of the dates indicated are qualified by reference to and should be read in conjunction with our financial statements and related notes and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in our public filings with the U.S. Securities and Exchange Commission (the “SEC”). This presentation includes certain non-GAAP financial measures, which are different from financial measures calculated in accordance with U.S. GAAP. Such non-GAAP financial measures should be considered in addition to and not as a substitute for or superior to financial measures calculated in accordance with U.S. GAAP. In addition, the definitions of Adjusted EBITDA and Margin and Core Net Income and Margin in this presentation may be different from the definition of such terms used by other companies, and therefore comparability may be limited. A quantitative reconciliation of non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures has been included in this presentation. Except for historical information, all of the statements, expectations, and assumptions contained in this presentation constitute forward-looking statements made under the “safe harbor” provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These statements include descriptions regarding the intent, belief or current expectations of GreenTree Hospitality Group Ltd. (the “Company”), its officers or its management with respect to the consolidated results of operations and financial condition of the Company. The Company may also make written or oral forward-looking statements in its reports filed with or furnished to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. These statements can be recognized by the use of words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” “confident,” “future,” words or expressions of similar meaning. Such forward-looking statements are not guarantees of future performance and involve known and unknown factors, risks and uncertainties that may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Such factors and risks include, but are not limited to the following: the Company’s goals and growth strategies; its future business development, financial condition and results of operations; trends in the hospitality industry in China and globally; competition in our industry; fluctuations in general economic and business conditions in China and other regions where we operate; the regulatory environment in which we and our franchisees operate; and assumptions underlying or related to any of the foregoing. You should not place undue reliance on these forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC, copies of which are available for free in the Investor Relations section of the Company’s website at http://ir.998.com or upon request from the Company’s Investor Relations Department. All information provided, including the forward-looking statements made, in this presentation are current as of the date hereof. Neither the delivery of this presentation nor any further discussions of the Company after the date hereof shall, under any circumstances, imply that there has been no change in the affairs of the Company since such date. Except as required by law, the Company undertakes no obligation to update any such information or forward-looking statements to reflect events or circumstances after the date on which the information is provided or statements are made, or to reflect the occurrence of unanticipated events. Disclaimer
Page 3
3 01 2026Q2 Performance Review 2026Q2 Operating and Financial Highlights Appendix Contents 2026Q2 Strategic Execution 02 03 04
Page 4
401 2026Q2 Performance Review
Page 5
5 2026Q2 Highlights Hotel RevPAR Hotel Revenues Hotel Net Income Hotel Core Net Income(Non- GAAP)(2) Notes: 1. As Da Niang Dumplings and Bellagio, two leading restaurant chain businesses in China, were all under the control of GreenTree Inns Hotel Management Group, Inc., the company accounted for the common-control acquisitions by using the pooling of interest method. The consolidated balance sheets and consolidated statements of comprehensive income/(loss) include the results of each of the combining entities or businesses from the earliest date presented or since the date when the combining entities or businesses first came under common control. In this report, the comparative financial data have been restated to reflect the business combinations under common control occurred. 2. Core net income (Non-GAAP) is calculated as net income plus share-based compensation, losses from investments in equity securities (net of 25% tax), other expense(net of 25% tax), one-time fees and expense, income tax expenses related to dividend distribution, and other general expenses but excludes subsidies (net of 25% tax), gains from investment in equity securities (net of 25% tax), and other income (net of 25% tax). Restaurant ADS (1)( Average Daily Sales per Store) Total Revenues Core Net Income(Non-GAAP)(2) 103 204.6MM 19.7MM RMB 2,893 235.1MM 21.3MM Compared with 2025Q2 Down 16.2% Down 20.3% Down 9.1% Down 87.7% with margin 9.7% Down 18.7% Down 86.7% with margin 9.0% 47.2MM Up 4.4% 45.6MM Down 1.6% Hotel Gross Profit Margin 41.1% Up 0.1 pts Net Income Gross Profit Margin 37.7% Up 1.0 pts
Page 6
6 RMB (M) Core Net Income Overview of 2026Q2 Net Income RMB (M) Total Revenues Income From Operations RMB (M) 244.0 204.6 45.9 30.5 0 50 100 150 200 250 300 25Q2 26Q2 Restaurant Hotel 50.2 46.7 (1.0) 1.6 -10 0 10 20 30 40 50 60 25Q2 26Q2 Restaurant Hotel RMB (M) 46.3 45.6 (1.2) 1.5 -10 0 10 20 30 40 50 25Q2 26Q2 Restaurant Hotel 161.2 19.7 (1.2) 1.5 -20 0 20 40 60 80 100 120 140 160 180 25Q2 26Q2 Restaurant Hotel
Page 7
7 Hotel Performance ADR RMB Growth Trend(F&M) Growth Trend(L&O) Occupancy RevPAR RMB 2026 119 129 139 129 124 135 145 132 127 139 149 133 71 90 120 133 96 133 117 117 91 90119 103 119 139 155 127 113 124 133 115 99 111 122 104 94 101100 131 145135 117 142 152 137 119 152 164 135 55 80 121 135 95 160 146 136 105 124 149 130 144 190 212 161 157 177 196 158 144 177 180 153 132 150 0 50 100 150 200 17Q1 17Q2 17Q3 17Q4 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2 19Q3 19Q4 20Q1 20Q2 20Q3 20Q4 21Q1 21Q2 21Q3 21Q4 22Q1 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 23Q4 24Q1 24Q2 24Q3 24Q4 25Q1 25Q2 25Q3 25Q4 26Q1 26Q2 152 155 159 158 155 163 166 163 162 171 173 169 149 142 151 133 150 169 161 168 152 145167 163 166 179 190 175 167 171 179 167 155 164 171 160 150 155 168 182 189193 193 201 210 212 200 216 224 203 169 173 171 190 184 219 223 224 199 217 237 208 229 255 268 241 235 250 258 241 236 245 254 239 229 236 0 100 200 300 17Q1 17Q2 17Q3 17Q4 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2 19Q3 19Q4 20Q1 20Q2 20Q3 20Q4 21Q1 21Q2 21Q3 21Q4 22Q1 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 23Q4 24Q1 24Q2 24Q3 24Q4 25Q1 25Q2 25Q3 25Q4 26Q1 26Q2 78.1% 83.5%87.7% 81.6%79.6% 82.9%87.5% 80.7% 78.4% 81.3%86.1% 1 47.7% 63.7% 79.3%133 63.7% 78.8% 72.6% 1 60.2% 1 71.3% 63.0% 71.9% 77.9%81.3% 72.5% 66.6%70.7%74.6% 68.6%64.1%67.8%71.4% 64.7%62.6% 65.2% 59.4% 72.1% 76.9% 70.2% 60.5% 70.7%72.6% 64.5% 59.6% 70.5%73.1% 1 32.7% 46.5% 70.6%71.0% 51.7% 72.9% 65.2% 1 52.6% 1 63.0%62.4%62.9% 74.6%79.0% 66.9%67.9%72.6%75.9% 65.5%61.0% 72.3%70.9% 63.9% 57.6% 63.5% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 17Q1 17Q2 17Q3 17Q4 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2 19Q3 19Q4 20Q1 20Q2 20Q3 20Q4 21Q1 21Q2 21Q3 21Q4 22Q1 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 23Q4 24Q1 24Q2 24Q3 24Q4 25Q1 25Q2 25Q3 25Q4 26Q1 26Q2 F&M Hotel L&O Hotel
Page 8
8 Improvement in Direct Sales and Membership Support Individual Members million Corporate Members thousand 2,256 2,339 0 500 1000 1500 2000 2500 2025Q2 2026Q2 YoY +3.7% 107 116 0 20 40 60 80 100 120 140 2025Q2 2026Q2 YoY +8.4%
Page 9
9 Overview of Restaurants ADS (3)ADT (2)AC (1) ADT (2)AC (1) RMB ADS (3) RMB Note: 1. AC: Average Check. 2. ADT: Average Daily Tickets. 3. ADS : Average Daily Sales per Store. RMB 44 44 51 44 35 32 31 32 26 25 51 46 55 49 48 54 68 60 47 56 0 10 20 30 40 50 60 70 80 90 24Q1 24Q2 24Q3 24Q4 25Q1 25Q2 25Q3 25Q4 26Q1 26Q2 Dine In Delivery 3,484 2,960 3,033 2,508 2,283 1,868 1,724 1,778 1,762 1,204 2,041 1,777 1,858 1,726 1,747 1,761 1,990 1,534 1,508 1,689 0 500 1000 1500 2000 2500 3000 3500 4000 24Q1 24Q2 24Q3 24Q4 25Q1 25Q2 25Q3 25Q4 26Q1 26Q2 Dine In DeliveryRMB RMB RMB 80 68 60 58 65 59 55 53 67 49 40 38 34 35 36 33 29 30 32 30 0 10 20 30 40 50 60 70 80 90 24Q1 24Q2 24Q3 24Q4 25Q1 25Q2 25Q3 25Q4 26Q1 26Q2 Dine In Delivery 46 46 48 43 37 37 45 36 0 5 10 15 20 25 30 35 40 45 50 24Q3 24Q4 25Q1 25Q2 25Q3 25Q4 26Q1 26Q2 106 93 83 85 100 88 73 81 0 20 40 60 80 100 120 24Q3 24Q4 25Q1 25Q2 25Q3 25Q4 26Q1 26Q2 4,891 4,234 4,029 3,629 3,714 3,312 3,270 2,893 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 24Q3 24Q4 25Q1 25Q2 25Q3 25Q4 26Q1 26Q2
Page 10
1002 2026Q2 Strategic Execution
Page 11
11 2026Q2 Strategic Execution Greater Penetration in Tier 3 and Lower Cities in South China Further Expansion into Mid-to-up- scale Segment
Page 12
12 Further Expansion into Mid-to-up-scale Segment Hotel New Openings Breakdown by Segment Hotel Breakdown by Segment 24.6% 65.0% 53.3% Hotel Pipeline Breakdown by Segment 53.1% 21.3% 53.2% 20.1% EconomyMid-to-Upscale Midscale 36.3% 18.2% 10.4% 21.0% 28.6% 27.6% 29.4% 18.0% 49.8% 63.3% 65.0% 64.4% 53.3% 49.4% 48.6% 59.0% 13.9% 18.5% 24.6% 14.6% 18.1% 23.0% 20.1% 23.0% 548 466 618 295 420 405 255 61 0 100 200 300 400 500 600 700 2019 2020 2021 2022 2023 2024 2025 26H1 31.2% 28.7% 21.0% 21.2% 20.1% 26.6% 27.0% 25.9% 50.2% 52.2% 50.6% 53.1% 53.2% 48.4% 49.3% 50.9%18.6% 19.1% 28.4% 25.7% 26.7% 25.0% 23.7% 23.2% 639 833 853 916 963 1,214 1,260 1,278 0 200 400 600 800 1000 1200 1400 2019 2020 2021 2022 2023 2024 2025 26Q2 17.1% 17.5% 16.8% 16.7% 18.6% 20.2% 21.1% 21.2% 77.2% 75.1% 72.9% 72.8% 70.2% 67.3% 66.1% 65.9% 5.7% 7.4% 10.3% 10.5% 11.2% 12.5% 12.8% 12.9% 3,178 3,555 3,859 4,059 4,238 4,425 4,580 4,615 0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 2019 2020 2021 2022 2023 2024 2025 26Q2
Page 13
13 Note: 1. Tier 1 Cities refers to Beijing, Shanghai, Shenzhen and Guangzhou; Tier 2 Cities refers to the 32 major cities, other than Tier 1 Cities, including provincial capitals, administrative capitals of autonomous regions, direct-controlled municipalities and other major cities designated as municipalities with independent planning by the State Council. Greater Penetration in Tier 3 and Lower Cities Hotel New Openings Breakdown by City Tier Hotel Pipeline Breakdown by City Tier Hotel Breakdown by City Tier 68.1% 70.7% 68.7% 72.6% 73.5% 73.0% 73.1% 71.6%27.2% 24.5% 26.5% 22.5% 23.4% 22.3% 21.6% 23.5% 4.7% 4.8% 4.8% 4.9% 3.1% 4.7% 5.3% 4.9% 639 833 853 916 963 1,214 1,260 1,278 0 200 400 600 800 1000 1200 1400 2019 2020 2021 2022 2023 2024 2025 26Q2 66.1% 67.2% 67.6% 68.2% 69.8% 69.7% 69.9% 71.1% 22.0% 21.9% 22.2% 21.7% 20.8% 21.1% 20.9% 20.0% 11.8% 10.9% 10.2% 10.1% 9.3% 9.2% 9.2% 8.9% 3,178 3,555 3,859 4,059 4,238 4,425 4,580 4,615 0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 2019 2020 2021 2022 2023 2024 2025 26Q2 Other CitiesTier 1 Cities Tier 2 CitiesOther CitiesTier Cities Tier 2 Cities Other CitiesTier 1 Cities Tier 2 Cities 71.7% 72.3% 65.9% 72.2% 76.7% 71.9% 72.9% 75.4% 21.2% 21.2% 27.0% 20.3% 17.9% 21.5% 20.4% 16.4% 7.1% 6.4% 7.1% 7.5% 5.5% 6.7% 6.7% 8.2% 548 466 618 295 420 405 255 61 0 100 200 300 400 500 600 700 2019 2020 2021 2022 2023 2024 2025 26H1 Other Cities Tier 2 Cities Tier 1 Cities
Page 14
14 2026Q2 and Fiscal Year Restaurant Strategic Execution Expanding Number of Street Stores Business Model Optimization Leads to a Greater Share of Franchised and Managed Restaurants Restaurant Breakdown by L&O and F&M Proportion of Restaurants Breakdown by Location 50.6% 51.5% 6.0% 6.1% 43.4% 42.4% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2025Q2 2026Q2 Shopping Mall Stores Transportation Hub Stores Street stores 168 185 15 13 183 198 0 50 100 150 200 250 2025Q2 2026Q2 L&O F&M YoY +8.2%
Page 15
1503 Operating and Financial Highlights
Page 16
16 Total Revenue RMB (M) Revenue from L&O Hotels RMB (M) Hotel Revenue Revenue from F&M Hotels RMB (M) 137.5 126.3 0 50 100 150 25Q2 26Q2 YoY -8.2% 65.9 55.5 0 50 100 150 25Q2 26Q2 YoY -15.8% 106.0 Same Hotel Revenue from L&O Hotels 244.0 204.6 0 50 100 150 200 250 300 25Q2 26Q2 YoY -16.2% 77.6 Same Hotel
Page 17
17 Notes: 1. Total operating costs and expenses consist of hotel operating costs, selling and marketing expenses, general and administrative expenses, other operating expenses and other general expenses. Other general expenses in 2026Q2 included the provisions for loan receivables related to franchisee loans, and impairment of assets. Hotel Operating Costs and Expenses Total Hotel Operating Costs and Expenses (1) RMB (M) Selling and Marketing Expenses RMB (M) General and Administrative Expenses RMB (M) Hotel Operating Costs RMB (M) 144.2 120.6 0 50 100 150 25Q2 26Q2 YoY -16.4% 8.4 8.9 0 2 4 6 8 10 25Q2 26Q2 YoY 5.6% Excluding Provisions for Loan Receivable from Franchisees and Other Operating Expenses 38.0 25.1 0 10 20 30 40 25Q2 26Q2 YoY -34.0% 0 50 100 150 200 250 25Q2 26Q2 YoY -20.6%190.6 154.6 200.7 159.4 YoY -18.9% Total Hotel Operating Costs and Expenses Provisions for Loan Receivable from Franchisees and other receivables Other Operating Expenses
Page 18
18 Hotel Profitability Notes: 1. Core net income (non-GAAP) is calculated as net income plus share-based compensation, losses from investments in equity securities (net of 25% tax), other expense(net of 25% tax), one-time fees and expense, income tax expenses related to dividend distribution, and other general expenses but excludes subsidies (net of 25% tax), gains from investment in equity securities (net of 25% tax), and other income (net of 25% tax). 2. Adjusted EBITDA (non-GAAP) is calculated as net income plus other operating expenses, income tax expense, share of loss in equity investees, net of tax, interest expense, depreciation and amortization, losses from investment in equity securities, and other general expenses, and other expense, net, but excludes other operating income, interest income and other, net, gains from investment in equity securities, share of gains in equity investees (net of tax), and other income, net. Core Net Income (1)Adjusted EBITDA (2) RMB (M) RMB (M) Income From Operations RMB (M) Net Income RMB (M) Margin Margin Margin 20.6% 9.7% 31.7% 32.8% 77.3 67.1 0 10 20 30 40 50 60 70 80 25Q2 26Q2 YoY -13.2% Margin 22.8% 19.0% 22.3% 46.3 45.6 0 10 20 30 40 50 25Q2 26Q2 YoY -1.6% 66.0% 50.2 46.7 - 10.0 20.0 30.0 40.0 50.0 60.0 25Q2 26Q2 YoY -7.0% 161.2 19.7 - 50.0 100.0 150.0 200.0 25Q2 26Q2 YoY -87.7%
Page 19
19 Total Revenue RMB (M) Restaurant Revenue and Operating Costs and Expenses Total Restaurant Operating Costs and Expenses RMB (M) 45.9 30.5 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 45.0 50.0 25Q2 26Q2 YoY -33.5% 47.1 30.3 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 45.0 50.0 25Q2 26Q2 YoY -35.6%
Page 20
20 Restaurant Profitability Notes: 1. Core net income (non-GAAP) is calculated as net income plus share-based compensation, losses from investments in equity securities (net of 25% tax), other expense(net of 25% tax), one-time fees and expense, income tax expenses related to dividend distribution, and other general expenses but excludes subsidies (net of 25% tax), gains from investment in equity securities (net of 25% tax), and other income (net of 25% tax). 2. Adjusted EBITDA (non-GAAP) is calculated as net income plus other operating expenses, income tax expense, share of loss in equity investees, net of tax, interest expense, depreciation and amortization, losses from investment in equity securities, and other general expenses, and other expense, net, but excludes other operating income, interest income and other, net, gains from investment in equity securities, share of gains in equity investees (net of tax), and other income, net. Core Net Income (1)Adjusted EBITDA (2) RMB (M) RMB (M) Income From Operations RMB (M) Net Income RMB (M) Margin Margin -2.5% 5.1% -2.3% 5.2% 4.9% 5.9%2.3% (1.2) 1.5 -1.5 -1.0 -0.5 - 0.5 1.0 1.5 2.0 25Q2 26Q2 1.1 1.8 - 0.5 1.0 1.5 2.0 25Q2 26Q2 (1.2) 1.5 -1.5 -1.0 -0.5 - 0.5 1.0 1.5 2.0 25Q2 26Q2 (1.0) 1.6 -1.0 -0.5 - 0.5 1.0 1.5 2.0 25Q2 26Q2 Margin Margin YoY +67.2% -2.5%
Page 21
21 Group Profitability RMB Core Net Income per ADS (Basic and Diluted) (Non-GAAP) (2) Notes: 1. EPS, Earnings per ADS (basic and diluted) was calculated as net (loss) income attributable to ordinary shareholders divided by weighted average shares outstanding. 2. Core net income (non-GAAP) is calculated as net income plus share-based compensation, losses from investments in equity securities (net of 25% tax), other expense(net of 25% tax), one-time fees and expense, income tax expenses related to dividend distribution, and other general expenses but excludes subsidies (net of 25% tax), gains from investment in equity securities (net of 25% tax), and other income (net of 25% tax). Net Income per ADS (Basic and Diluted) (1) RMB Net Income RMB (M) RMB (M) Core Net Income (Non-GAAP) 160.0 21.3 0.0 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 180.0 25Q2 26Q2 YoY-86.7% 45.2 47.2 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 45.0 50.0 25Q2 26Q2 YoY +4.4% 1.59 0.21 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80 25Q2 26Q2 YoY-87.1% 0.45 0.47 0.00 0.05 0.10 0.15 0.20 0.25 0.30 0.35 0.40 0.45 0.50 25Q2 26Q2 YoY +4.9%
Page 22
22 RMB (M) Cash and Cash Equivalents Total cash and cash equivalents, restricted cash, short-term investments, investments in equity securities and time deposits of RMB 2,000.3 Million as of June 30, 2026 2,010.2 23.3 -0.2 -7.9 -12.1 -13.0 2,000.3 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 2,200 Cash & Cash Equivalents, Restricted Cash, Short- term Investments, Investments in Equity Securities and Time Deposits (March 31, 2026) Cash from Operating Activities Repayment of Bank Borrowings Fluctuation of Exchange Rates Purchase of Equipment Cash to Third Parties, Franchisees and Related Parties, net Cash & Cash Equivalents, Restricted Cash, Short- Term Investments, Investments in Equity Securities and Time Deposits (June 30, 2026)
Page 23
23 Guidance Thank you! Q&A Based on our performance in the first half year, we maintain our previous revenue guidance for the hotel business, that we expect revenue to decrease by 10% to 15% year over year for the year of 2026. The guidance set forth above reflects the Company's current and preliminary views based on its recovery and may not be indicative of the final financial results for any future periods or the full year.
Page 24
24 04 Appendix
Page 25
25 Our Portfolio Mid-to-up-scale Mid-scale Economy As of June 30, 2026 • Hotels in operation: 596 Hotel rooms in operation: 56,448 Room rates: RMB 200 - 600 • Hotels in operation: 3,040 Hotel rooms in operation: 228,537 Room rates: RMB 150 - 400 • Hotels in operation: 979 Hotel rooms in operation:45,044 • Room rates: RMB 90 - 300
Page 26
26 Number of Hotels in Operation Number of Hotel Rooms in Operation 2025Q2 2026Q2 2025Q2 2026Q2 Mid-to-up-scale 569 596 52,773 56,448 GreenTree Eastern 236 252 25,107 28,316 Deep Sleep Hotel 8 9 610 710 Gem 119 118 10,781 10,726 Gya 72 79 6,012 6,676 Vx 108 110 9,024 9,117 Others 26 28 1,239 903 Mid-scale 3,005 3,040 226,336 228,537 GreenTree Inn 2,366 2,343 184,561 185,694 GT Alliance 508 565 32,749 33,872 GreenTree Apartment 24 30 1,545 1,860 Vatica 107 102 7,481 7,111 Economy 935 979 42,868 45,044 Shell 935 979 42,868 45,044 Total 4,509 4,615 321,977 330,029 Hotel Breakdown By Market Segment and Brand
Page 27
27 2025Q2 2026Q2 Total hotels in operation 4,509 4,615 Leased-and-owned hotels 55 42 Franchised hotels 4,454 4,573 Total hotel rooms in operation 321,977 330,029 Leased-and-owned hotels 6,262 4,902 Franchised hotels 315,715 325,127 Number of cities 357 347 2025Q2 2026Q2 Occupancy rate Leased-and-owned hotels 72.3% 63.5% Franchised hotels 67.8% 65.2% Blended 67.9% 65.2% Average daily rate (in RMB) Leased-and-owned hotels 245 236 Franchised hotels 164 155 Blended 166 157 RevPAR (in RMB) Leased-and-owned hotels 177 150 Franchised hotels 111 101 Blended 113 103 Hotel Operating Data
Page 28
28 2025Q2 2026Q2 Total restaurants in operation 183 198 Leased-and-owned restaurants 15 13 Franchised restaurants 168 185 Number of cities 53 53 2025Q2 2026Q2 ADT Dine In 32 25 Delivery 54 56 Blended 85 81 AC (in RMB) Dine In 59 49 Delivery 33 30 Blended 43 36 ADS (in RMB) Dine In 1,868 1,204 Delivery 1,761 1,689 Blended 3,629 2,893 Restaurants Operating Data
Page 29
29 2025Q2 2026Q2 ADT Leased-and-owned restaurants 215 194 Franchised restaurants 74 74 Blended 85 81 AC (in RMB) Leased-and-owned restaurants 88 83 Franchised restaurants 32 28 Blended 43 36 ADS (in RMB) Leased-and-owned restaurants 18,931 16,081 Franchised restaurants 2,363 2,062 Blended 3,629 2,893 Restaurants Operating Data